Anonymous wrote:There just seems to be so much up in the air still about what the school plans to do. This is before the neighbors begin to weigh in which is a nightmare, just ask St. Albans, Sidwell, Field and St. Patrick's.
Anonymous wrote:The land acquisition did involve debt. And the MacArthur campus's assessed value is less than $20 million, including the buildings. So when that parcel is sold the school will have less money, less land, and fewer facilities than it started out with.
Anonymous wrote:Closing 42nd Street shouldn't happen. There is simply no public benefit to giving public right of way over to an independent school. Further, it would put major traffic burdens on the residents of the greater River Road and Wisconsin Avenue areas. Any proposal to do this would be fought by local residents.
Anonymous wrote:The land acquisition did involve debt. And the MacArthur campus's assessed value is less than $20 million, including the buildings. So when that parcel is sold the school will have less money, less land, and fewer facilities than it started out with.
Anonymous wrote:The land acquisition did involve debt. And the MacArthur campus's assessed value is less than $20 million, including the buildings. So when that parcel is sold the school will have less money, less land, and fewer facilities than it started out with.
Anonymous wrote:Yes, it wouldn't surprise me if some of the developers and/or wannabes involved have other interests and agendas and anticipate a different outcome. Because it's hard to see how combining both schools on the Wisconsin Avenue site and adding private development makes sense when the newly-acquired land has less acreage than the existing L/MS campus. That's before we get to the issue of paying over twice the assessed value to acquire the land -- and an amount that exceeds the value of the MacArthur campus.
Given that GDS ends up with less land overall and the expense of rebuilding all of its L/MS facilities, this doesn't seem to be like a good deal for the school, even with a revenue-generating component. Basically, it looks like an opportunity for a savvy business type to gain access to valuable RE on the school's dime in exchange for kicking back some fraction of his profits to the school. Meanwhile the school itself has to carry substantial debt and hit up parents for tens of millions to replace facilities it already has.
Bad move and one that might never have happened had parents been advised of the plan before the deal was sealed.
Anonymous wrote:Yes, it wouldn't surprise me if some of the developers and/or wannabes involved have other interests and agendas and anticipate a different outcome. Because it's hard to see how combining both schools on the Wisconsin Avenue site and adding private development makes sense when the newly-acquired land has less acreage than the existing L/MS campus. That's before we get to the issue of paying over twice the assessed value to acquire the land -- and an amount that exceeds the value of the MacArthur campus.
Given that GDS ends up with less land overall and the expense of rebuilding all of its L/MS facilities, this doesn't seem to be like a good deal for the school, even with a revenue-generating component. Basically, it looks like an opportunity for a savvy business type to gain access to valuable RE on the school's dime in exchange for kicking back some fraction of his profits to the school. Meanwhile the school itself has to carry substantial debt and hit up parents for tens of millions to replace facilities it already has.
Bad move and one that might never have happened had parents been advised of the plan before the deal was sealed.